6 indicators confirm that Bitcoin bull run has ended
A. BTC has hit the decreasing trend line. This line limits the BTC peaks since the all time high
B. Heikin Ashi Cross. This is a reversal sign. There was not any for the last 3 months.
C. RSI cross over with RSI average. This is the first one since the bottom.
D. Volume Impact is negative. And there was a divergence between Price and Volume Impact
E. Heikin Ashi Oscilator: Divergence with Price
And finally, there was similar dynamic at 2014 Bitcoin crisis.
Keep in mind that Bitcoin might move at any direction regardless of any analysis...
It might be bouncing up as well. However, following price increases are more likely to be exit opportunities
1. The last 3 day bar has not closed yet, the conditions might change in the next 21 hours. The Heikin Ashi Cross might disappear when by the time the last bar closes. So this analysis 20 hours too early. But it is wise to be cautions now.
2. If the next bar (3 days later) - following the Heikin Ashi Cross - is green then this setup will be invalid... This will be the case if the price moves horizontally for the next 3 days.
As the last bar is not closed yet, it is more wise to set a stop loss (for example 4750$) rather than exiting right away.
Or one should reduce position at every price peak.
B. Heikin Ashi Cross. This is a reversal sign. There was not any for the last 3 months.
C. RSI cross over with RSI average. This is the first one since the bottom.
D. Volume Impact is negative. And there was a divergence between Price and Volume Impact
E. Heikin Ashi Oscilator: Divergence with Price
And finally, there was similar dynamic at 2014 Bitcoin crisis.
Keep in mind that Bitcoin might move at any direction regardless of any analysis...
It might be bouncing up as well. However, following price increases are more likely to be exit opportunities
1. The last 3 day bar has not closed yet, the conditions might change in the next 21 hours. The Heikin Ashi Cross might disappear when by the time the last bar closes. So this analysis 20 hours too early. But it is wise to be cautions now.
2. If the next bar (3 days later) - following the Heikin Ashi Cross - is green then this setup will be invalid... This will be the case if the price moves horizontally for the next 3 days.
As the last bar is not closed yet, it is more wise to set a stop loss (for example 4750$) rather than exiting right away.
Or one should reduce position at every price peak.
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I expect BTC to revisit weekly SMA200
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